According to China's National Bureau of Statistics, as of September 21 this year, total iron ore inventory at 30 major Chinese ports amounted to 96.19 million mt, up 240,000 mt week on week and indicating the first week-on-week increase for the past four weeks. Meanwhile, the overall iron ore inventory figure increased by 2.09 million mt compared to the same period of last year.
Specifically, as of September 21, iron ore inventory at 12 of the 30 major ports indicated decrease, while 10 ports witnessed an increase in iron ore inventory and others remained unchanged, all on week-on-week basis. The largest week-on-week increases in iron ore inventory were recorded at the port of Jingtang and Caofeidian, amounting to 500,000 mt and 470,000 mt respectively. Meanwhile, inventory at the ports of Tianjin, Luojing and Nantong increased by 60,000 mt, 100,000 mt and 100,000 mt, all on week-on-week basis.
Decreases in iron ore inventory were registered at ports of Lianyungang, Rizhao and Qingdao, down 400,000 mt, 200,000 mt and 200,000 mt, respectively all compared to the previous week.
In the week ending September 21, iron ore inventory from Australia and India at the 30 major Chinese ports in question indicated respective decreases of 100,000 mt and 150,000 mt, while iron ore imported from Brazil increased by 800,000 mt, all week on week.